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Take the lead! australia has regulations that impose heavy penalties on platforms if teenagers use social media.
① The Australian Ministry of Communications has submitted a bill prohibiting children under 16 from using social media, with non-compliant platforms facing fines of up to 50 million australian dollar; ② The bill has received broad political support in Australia, and if successfully legislated, social media companies will have one year to implement age restrictions; ③ Major global social media companies are taking a wait-and-see approach to this.
Announcement iShares Annual Financial Report 30 June 2024